Warning...this may be hard to follow: I have an offer for a BT from Citi @ 3.9% which I'd like to take advantage of during this billing cycle. I currently have a very small balance which I have just used click to pay to pay off. What I'd like to do is AFTER that payment posts and my balance is ZERO to use the BT offer. Since I'd be doing this all in the same billing cycle could I potentially get caught in the scenario of them considering the previous amount at the purchase APR for payoff AFTER the BT rate amount is paid off and continue to charge purchase APR on it or would the only APR charged be for the BT? I really don't want to have to wait until my cycle closes and a new statement is generated showing the ZERO balance before doing the BT. I would think that they would be able to continue to charge me interest on the current balance if it is paid to zero before I do the BT. Does anyone know how this works?
BT offers are designated in their own place on your bill. Online payments take like a day to pay now, so once the payment posts, you should be set.
Mist. Pay your citi-bill and check online the next day, as soon as you show a zero balance do your BT. I did this in March/April. Hubby got a 3.9% BT for life, and credit line raised from 3500 to 5200 to accomodate what was needed. . I have citi account opened in my name last December.. for 0% for 9 months but with a much smaller CL. I am hoping that when my 9 months goes out I can get my credit limit raised and this 3.9% deal on a second account. Cherie
I don't agree with Sam.. I believe that within the same billing cycle, payments would be applied first to balances with lower APR. So, most probably this is what they will do even though your payment was made and the balance was zero before you initiated the BT. I may be wrong but I would wait till the bill closes before doing the BT. At least this what I usually do. I don't think that they would consider the balance to be reset anywhere during an active billing cycle. It gotta be at the end.
I know this for a fact, your acct has to cycle with a 0.00 balance, not just wait for the pymt to post, the acct has to actually cycle, otherwise you WILL fall into the trap.
